-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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These scum desperately need money and they don’t care where they get it. It’s like that scene in the Sopranos when Davey Scatino gives Tony his son’s car as partial payment for the gambling debt he owes Tony
Mother lived in Glencoe and NEVER drove her car to Chicago. But she still got a notice for an unpaid parking ticket from Chicago.